Intel Buys Back Apollo’s 49% Stake in Its Ireland Chip Factory for $14.2B as AI Demand and Finances Improve

Intel will spend $14.2 billion to reacquire the 49% stake it sold to Apollo Global Management in 2024 for $11.2 billion in its Leixlip, Ireland manufacturing facility, funded with cash on hand and approximately $6.5 billion in new debt. The buyback reflects Intel's improved financial position under CEO Lip-Bu Tan, who has been aggressively restructuring the company through job cuts and asset sales since taking over, with Intel also receiving significant investments from Nvidia and the US government, which is now its largest shareholder. The Ireland plant, known as Fab 34, produces Core Ultra and Xeon processors using Intel 4 and Intel 3 process technologies, and the deal is expected to boost profit and strengthen Intel's credit profile from 2027 as rising AI inference demand drives renewed interest in its data center chips.